I used to train at a hardcore gym in Louisiana with plenty of competitive bodybuilders.
One laid back dude , never competed in contests, BUT did a basic contest prep each year.
As a veteran of several contests, I didn't understand why he never competed despite getting ripped.
One day he worked in with me doing cable crossovers, so I asked him.
His answer changed my thinking forever.
The conversation went like this:
Me- "Hey, you are really starting to get ripped."
Him - " Thanks, I'm doing my annual fat loss diet and routine."
Me- " I see that, and you should compete."
Him - " No, not me. I'm happy to just watch you other guys compete."
Me - " Ok, but why are dieting and trying to get ripped, if you aren't going to compete in a contest?"
Him - " Each year my wife and I go to a luxury resort in the Virgin Islands. I want to look good out on that beach and in the pictures we take on the trip. My wife is younger then me and I think she's pretty hot, so I need to keep up with her, if you know what I mean ( chuckles)"
Me - " Hmmm, that makes sense, BUT why don't you want to compete in a contest after getting ripped for the vacation ? "
Him - " I pay good $$$ to live nice when we stay at that luxury resort. No offense, but it never made sense to me to pay $$$ to put on a show for someone else. (big smile

) That's like a hooker paying you , for letting her give you blowjob."
This conversation occurred in 1997, a couple years after my last contest. While I've toyed with the idea of competing again, I never did .
Within a couple years of this conversation, I started going on cruises and resorts for the first time. From that point on, paying to get wined and dined always made a lot more sense then spending $$$ to compete in contests.
While I personally understand the motivation to compete in bodybuilding, it stopped making sense after this conversation.
Far better to get in good condition, for your own personal satisfaction.